Bike Loan Interest Rate
Bike Loan is a sub-category of a regular Auto Loan. Similar to the Vehicle loan, it shares the same structure of interest determination (Base Rate + Premium or Fixed Rate). The Bike Loans are of shorter tenure and offer a smaller loan. Here’s the Bike loan interest rate in Nepal offered by every BFIs.
As we know, all the Banks and Financial Institutions used to follow the methodology set by the Central banks for determining the Loan Interest Rate. Like the deposit interest rate, the Loan interest rates are also revised every month and practice in effect from the beginning of each month. The banks set the interest rate in loan products by adding a premium rate (spread rate) to their base rate. Here, you will get the Bike Loan Interest Rate in Nepal set by each BFI.
We have extract the exact Interest Rate provided by each BFI on their Website, Social Pages and Circulars. So, let’s find the Bike Loan Interest Rate in Nepali Banks and get the best deal for your financing requirements.
Bike Loan Interest Rate in Nepali Banks
Here’s the latest Interest Rates of all BFIs for this month,
| Bank/Financial Institution (FI) | Loan Name | Interest Rate Range | Processing Fee | Tenure |
|---|---|---|---|---|
| Lumbini Bikas Bank | Bike Loan | 6.63% - 10.63% | - | - |
| Manjushree Finance | Bike Loan | 7.55% - 11.55% | - | - |
| ICFC Finance Ltd | Bike Loan | 7.58% - 11.58% | - | - |
Interest Rate in Nepali Banks
Based on the Interest Rate collected from all licensed BIFs ‘A’, ‘B’ & ‘C’, we can see that the ‘C’ Class Finance Companies provide the highest Interest Rate. After Finance Companies, the ‘B’ Class Development Banks also offer a higher Interest Rate.
Note: All the interest rates mentioned here and every BFIs are measured in p.a. (Per Anum/ Anually)
We hope you get the Bike Loan Interest Rate in Nepali Banks and financial institution to choose the best one for your financing requirements. With these interest rate data of each BFI, you will get the best idea and choose the right banks to fulfill the fund requirement and make the best decision.